Deals of the day -- mergers and acquisitions

June 25, 2013|Reuters

June 25 (Reuters) - The following bids, mergers,acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Shareholders of Sprint Nextel Corp voted on Tuesdayin favor of a sweetened takeover offer from SoftBank Corp, ending a contentious takeover battle for the No. 3U.S. wireless service provider. According to Sprint, about 80percent of its shares outstanding were voted in favor of the$21.6 billion deal that would leave SoftBank with 78 percentownership of the company.

** French farmer-owned dairy cooperatives Sodiaal and 3Ahave agreed to merge to form a group with 5 billion euros ($6.5billion) in sales as the sector braces for increased competitionwhen European production quotas come to an end.

** Indian state oil firms ONGC and Oil India Ltd have signed an agreement to buy a 10 percent stake ina Mozambique gas field from India's Videocon Group for$2.48 billion, the state companies said on Tuesday.

** Total SA and private equity firm Hellman &Friedman plan to sell their 30 percent stakes in Gaztransport &Technigaz (GTT), the world's No. 1 maker of cryogenic hulllinings for LNG tankers, in an IPO that could value GTT at up to$2.4 billion, sources close to the companies said.

** Dubai Holding's telecoms unit has hired Credit SuisseGroup AG as a financial adviser to sell its 35-percentstake in state-owned Tunisie Telecom, three banking sourcesaware of the matter said. Emirates InternationalTelecommunications had bought the stake for $2.25 billion in2006.

** A Chinese investor and a French private equity firm havewon over Club Med with an improved 557 million euros($729 million) takeover bid, seeking to accelerate a shift atthe holiday resorts pioneer to fast-growing emerging markets.

** Pakistan mobile operator Warid Telecom has been put upfor sale by its Abu Dhabi owners and is likely to draw interestfrom China Mobile and Etisalat, sourcesfamiliar with the matter said on Tuesday.

** HSBC Holdings said on Tuesday it is consideringselling its majority stake in Dar Es Salaam Investment Bank, which has made it the main international lender inIraq.

** Commodities firm Glencore Xstrata and Dutchtrading company Trafigura are talking separately with Brazilianbillionaire Eike Batista about buying a controlling stake in hisMMX SA mining company, local papers said on Tuesday.

** The boards of Italian builders Impregilo andSalini said on Monday they had approved the terms of a mergerthat will create a group with revenue of 7.4 billion euros ($9.7billion) in 2016.

** Carrefour SA the world's second largestretailer, is exploring a sale of its businesses in China andTaiwan, including a possible initial public offering in HongKong or a combination of some of those assets with anothercompany, The Wall Street Journal reported on Monday, citingpeople familiar with the matter.

** Russian oil-to-telecoms conglomerate Sistema isnot in talks to sell its oil unit to Rosneft, itsowner told Reuters on Tuesday, after a newspaper reported thatstate-owned Rosneft was interested in a deal.

** Australia's Linc Energy is in very early talkson a deal to buy the Gregory Crinum coal operation inQueensland, jointly owned by BHP Billiton Ltd andJapan's Mitsubishi Corp, a source said on Tuesday.

** Meiji Yasuda Life Insurance Co has entered into exclusivetalks to buy a 15 percent stake in Thai Life Insurance Co foraround $700 million, people familiar with the matter toldReuters, as Japanese insurers step up their presence inSoutheast Asia.

** The Norwegian state has spent 1.56 billion crowns ($254million) on increasing its stake in fish farmer Cermaq to nearly 60 percent, just days after fending off a $1.7-billionhostile bid by its bigger local rival Marine Harvest.

** Partners Group said it will pay $270 million fora majority stake in CSS Corp, a San Jose, California-basedspecialist technology outsourcing firm.

** Portugal's oil and gas company Galp Energia SGPS SA has agreed to sell a 5 percent stake in Spain'sCompania Logistica de Hidrocarburos to Canada's British ColumbiaInvestment Management Corp for 111 million euros ($145.13million), the Portuguese company said on Tuesday.

** Club Mediterranee's board on Tuesday acceptedan improved offer from two top shareholders that plan to takeover the French holiday firm and accelerate its shift tofast-growing markets.